The IL&FS Group has settled around Rs 35,650 crore of its total debt of Rs 99,000 crore through asset monetisation, auto debits by banks and repayments as of September.
In a statement on Tuesday, the group said it has completed a repayment of around Rs 10,000 crore by way of interim distribution across 14 companies.
These include two vertical holding firms IL&FS Transportation Networks (ITNL) and IL&FS Financial Services (IFIN), and the group holding company IL&FS Ltd.
The group has repaid around Rs 35,650 crore of its total debt of Rs 99,000 crore till September through asset monetisation, auto debits by banks and repayments, including interim distribution across group entities, IL&FS Group Managing Director Nand Kishore said.
“We are happy to have achieved Rs 10,000 crore payout under the interim distribution framework that was proposed by the new board and was approved by the NCLAT last year,” he said.
This allowed the group to pay dues to eligible creditors, including several public funds and debenture holders, that invested at the vertical holding companies and group holding company, on an interim basis, without waiting for the final resolution, he said.
The group initiated interim payouts to eligible creditors of IL&FS, IFIN, and ITNL, totalling over Rs 2,400 crore in September.